Ford's new CEO, Jim Hackett, has been working on a new electrification plan since being appointed past year. Ford said it will invest $11 billion to create 40 new electric and hybrid vehicles that will be available by 2022. By the end of 2015, the concern said it would invest 4.5 billion United States dollars by the end of the decade, but now raises the investment and targets. The rumours have a different opinion as they don't think that teaser is referring to the "MuSTang". "If we want to be successful with electrification, we have to do it with vehicles that are already popular", Ford told reporters, according to Reuters.
The Detroit-based company previously said that it would invest 4.5 billion US dollars in electric products by 2020, and on Sunday it said that this number would rise to 11 billion dollars.
"The 11 billion Dollars that you see means that we are betting all-in", said executive chairman of Ford Motor, William Clay Ford. No. 2 US automaker then said that they would shift capital investment away from sedans and internal combustion engines to develop more trucks and electric and hybrid cars. One avenue under consideration was the sale of Ford cars on Tmall.
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Less than 24 hours ago, a teaser video of a future product got uploaded on Ford USA's Facebook page and it hints on the release of a brand new ST.
Not only are Ford officials trying to develop strategies for introducing electrification vehicles in North America, but they're working to harness the largest and most rapidly growing auto market in the world - China.
Ford has committed to investing $11 billion (£8bn) in electric vehicles (EVs) by 2022.